Author Topic: Spelling Errors; Do You Care?  (Read 4029 times)

viking

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Spelling Errors; Do You Care?
« on: January 12, 2013, 01:45:24 PM »
Do spelling errors influence your decision to invest in a loan?

yojoakak

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Re: Spelling Errors; Do You Care?
« Reply #1 on: January 12, 2013, 02:01:26 PM »
Do spelling errors influence your decision to invest in a loan?
Yes.

Just one more reason it's usually better for a Borrower to not supply a description and to ignore any and all questions.

viking

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Re: Spelling Errors; Do You Care?
« Reply #2 on: January 12, 2013, 03:11:25 PM »
Has anyone run a statistical analysis to show if spelling errors reduces the returns...?
(Need to be careful when analyzing; e.g. would 1 error among 100 words be as important as 1 error among 10 words..?)

nonattender

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Re: Spelling Errors; Do You Care?
« Reply #3 on: January 12, 2013, 04:01:37 PM »
Do spelling errors influence your decision to invest in a loan?

Yes - but, not in any way that is open to being modeled.  Often, the appearance of a spelling error will incline me to believe that the stated location/profession/etc of the borrower is the truth.  An "executive", for instance, may, depending upon where they live or in particular industry they work, exhibit "text messaging" style prose or may get one instance of "consolidate" correct, while spelling a second instance "consolodate" (had one of those last week).  These are more complicated to decipher and interpret correctly than I originally thought, years ago, when I began w/the simple idea that good/consistent spelling and/or grammar translated to a return.

Different learning styles, different cognitive processing patterns (I think my exec from last wk was cued by the purpose of his loan - "consolidation" - and held the spelling in working memory - but had forgotten it, as a minor detail, by the time he was deeper in...), regional/dialectic differences - all of that makes it more art than science, I think, and largely immune to real mathematical modeling.

(Behavioral econ is an interest - but I find that I spend most of my time noticing behavioral biases in those who make the models!)
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MTaylor

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Re: Spelling Errors; Do You Care?
« Reply #4 on: January 12, 2013, 04:29:26 PM »
English may not be the first language for some borrowers, which wouldn't have anything to do with whether they are hard-working or reliable.

nonattender

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Re: Spelling Errors; Do You Care?
« Reply #5 on: January 12, 2013, 04:43:51 PM »
English may not be the first language for some borrowers, which wouldn't have anything to do with whether they are hard-working or reliable.

Yes - tons of factors like that.  Being from the south, I'm also especially sensitive to socio-economic educational factors - some guy in Mississippi (worst schools in the country) who makes $100k+ as an "executive" and can't spell perfectly is not going to raise a flag...

Important to remember though that mere "honesty" (some signal that makes me "more inclined to believe that xyz claim is the truth") does not necessarily correlate w/ *ability* to repay.  (If I believe the MS "executive" is honest, but "too" financially irrational, game is over.)

Phronesis != wealth and wealth != phronesis ... and using spelling and/or grammar as a correlate to gauge either is very hard to do...
« Last Edit: January 12, 2013, 05:08:43 PM by PeerLend »
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New Jersey Guy

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Re: Spelling Errors; Do You Care?
« Reply #6 on: January 12, 2013, 05:56:51 PM »
Yes. 

1.) If they were filling out an application at a bank, I'm sure they'd be more careful with both their spelling and grammar.

2.)  I don't know if LC provides a spell checker on their platform, but I know my MS Word program does.  Cut and Paste?

3.)  I absolutely hate people who type and abbreviate like they're texting.  IE:  U R 4 my loan, thx

People need to take a little bit more pride when doing something as important as asking strangers for a loan.

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rawraw

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Re: Spelling Errors; Do You Care?
« Reply #7 on: January 12, 2013, 09:21:38 PM »
Yep and in a negative manner.